Morocco and the United States signed Wednesday an agreement to expand the funding for an existing technical assistance agreement for “Promoting Domestic and Foreign Investments,” reported the official Maghrebe Arab Presse (MAP).
This latest amendment brings the total budget for USAID’s Economic Growth strategy to $7,210,000 or about 79,500,000 dirhams.
The five-year strategy, managed by the United States Agency for International Development (USAID) and scheduled to run through 2004, will eventually provide a total of $18.1 million or approximately 198 million dirhams to support Morocco’s economic growth, it said.
The overall objective of the USAID strategy is to improve the environment for investment in Morocco by facilitating economic, judicial, and administrative policy reform and improving the capacity of business support institutions to promote private-sector growth and expansion – Albawaba.com
